Risk disclaimer

Please read this before you buy anything.

Memecoins have no intrinsic value. Most go to zero, often within hours. Only use money you can afford to lose entirely.
Prices move violently. Fair Open removes the first-block advantage, and the 10-minute unlock caps how fast early buys can be sold — at the same pace for everyone, so nobody can sell faster than you. It does not stop people selling, and it cannot stop prices falling.
An Opening Round buy can't be cancelled. If the round is oversubscribed you get a pro-rata share and the rest is refunded automatically.
This is a beta. No limit on how much money the program holds. A bug could lose everything in it. What exists: a pause switch, an automatic monitor that trips it when an on-chain invariant breaks, an upgrade authority held in a 2-of-3 multisig — one person, in practice, on a team of one — and a public bug bounty. Every one of those is ours, paid for by us: nobody outside this team is standing behind any of it. Each coin's curve is bounded by its own graduation tier, so one coin holds at most its tier's raise — about 9.18 SOL at the smallest tier, about 130.87 SOL at the largest — and at graduation that SOL leaves the program into an ordinary Raydium pool with the liquidity locked. That is a bound on one coin, not on what the program holds in total.
A coin's creator fee can never be re-priced, and this is our word rather than your check. Whoever cooks a coin picks their own cut of every curve trade at that moment — 0 on almost every coin — and from then on nobody can change it: not them, not an admin key of ours, not a multisig vote short of replacing the program. It is paid to the creator's own wallet and never passes through us, so it is not ours to waive either. What you can do for yourself is narrow: read the rate on the coin before you trade, and see the same rate charged on every trade after it. What you are taking from us is that no instruction exists that could move it, because our source is not published. Our own rate is a separate number on the same coin, it is 0 today, and an admin key of ours can set it while the coin is on the curve — a buy or sell you sign names the most it will accept in fees, so a change fails the trade instead of charging you the difference.
How many tokens exist depends on the tier. A coin mints only what its tier uses and nothing more — about 444M tokens on the smallest tier and 1.04B on the largest — so a market cap on one coin is not the same measurement as on another. Compare the tier and the supply, which are on every coin page, before you compare two market caps.
A tier is a dollar target, not a promise. The tiers are named as graduation market caps in dollars, but what the program actually fixes the moment your coin starts cooking is the raise in SOL. If SOL is worth half as much on the day the coin graduates, the market cap is about half the tier's name — and more if SOL is worth more. Nobody, including us, can hold the dollar figure still.
Cooking a coin costs Solana rent, and most of it does not come back. The exact figure is on the fees page and on the cook sheet before you sign. It is not a fee to us, and we cannot return it either: no instruction closes those accounts.
Coins on other launchpads that we route you to through Jupiter are not controlled by Trenches.
Blockchain transactions are final. Sending to a wrong address cannot be reversed.
No advice. Nothing on Trenches is financial, investment, legal or tax advice.